Anil Singhvi strategy for February 16: Important market triggers, key levels to watch out for in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,875-17,950 levels on Thursday, February 16, and a strong buy zone in the 17,800-17,850 band. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support coming in at 41,500-41,625 levels, and a strong buy zone in the 41,275-41,425 area.

Here's how Anil Singhvi sums up the market setup on February 16:

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Cautious

• Sentiment: Positive

• Trend: Neutral

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For the 50-scrip headline index, Anil Singhvi expects a higher zone at 18,100-18,125 levels and a strong sell zone at 18,150-18,200 levels.​ For the banking index, he sees a higher zone at 41,950-42,075 levels and a profit-booking area in the 42,175-42,375 range.

• FII index longs at 26 per cent on Thursday vs 27 per cent the previous day

• Put-call ratio (PCR) at 1.39 vs 1.16 the previous day

• Nifty Bank PCR unchanged at 1.01

• Fear index India VIX down 4.4 per cent at 12.86

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 17,900 and closing stop loss at 17,775

• Nifty Bank intraday stop loss at 41,450 and closing stop loss at 41,250

For existing short positions:

• Nifty intraday and closing stop loss at 18,125

• Nifty Bank intraday and closing stop loss at 42,025

For new positions in Nifty:

• Buy Nifty with a stop loss at 17,850 for targets of 18,050, 18,100, 18,125, 18,150, 18,200 and 18,250

• Aggressive traders sell Nifty50 in the 18,150-18,250 range with a strict stop loss at 18,300 for targets of 18,100, 18,050, 18,000, 17,950, 17,925 and 17,875

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 41,400 for targets of 41,800, 41,950, 42,000, 42,075, 42,175 and 42,275

• Aggressive traders can sell Nifty Bank in the 41,950-42,075 range with a strict stop loss at 42,200 for targets of 41,800, 41,725, 41,675, 41,625, 41,550 and 41,500

F&O ban update

• Already in ban: Punjab National Bank (PNB), BHEL, IB Housing Finance, Ambuja Cements

• New in ban: None

• Out of ban: None

STOCKS OF THE DAY

• Buy Apollo Hospitals: Strong guidance after concall, an EPS upgrade of 5-6 per cent possible
• Sell Interglobe Aviation (IndiGo): Instead of a strategic sale, management selling stake in open market and huge competition increasing

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